83ATrustees both resident and non-resident in a year of assessment

1

This section applies if a chargeable gain accrues to the trustees of a settlement on the disposal by them of an asset in a year of assessment and the trustees—

a

are within the charge to capital gains tax in that year of assessment, but

b

are non-UK resident at the time of the disposal.

2

Where this section applies, nothing in any double taxation relief arrangements shall be read as preventing the trustees from being chargeable to capital gains tax (or as preventing a charge to tax arising, whether or not on the trustees) by virtue of the accrual of that gain.

3

For the purposes of this section the trustees of a settlement are within the charge to capital gains tax in a year of assessment—

a

if, during any part of that year of assessment, they are resident in the United Kingdom and not Treaty non-resident, or

b

if they are ordinarily resident in the United Kingdom during that year of assessment, unless they are Treaty non-resident during that year of assessment.

4

For the purposes of this section the trustees of a settlement are non-UK resident at a particular time if, at that time,—

a

they are neither resident nor ordinarily resident in the United Kingdom, or

b

they are resident or ordinarily resident in the United Kingdom but are Treaty non-resident.

5

For the purposes of this section the trustees of a settlement are Treaty non-resident at any time if, at that time, they fall to be regarded as resident in a territory outside the United Kingdom for the purposes of double taxation relief arrangements having effect at that time.